Four Corners Property Trust, Inc. (NYSE:FCPT) Short Interest Update

Four Corners Property Trust, Inc. (NYSE:FCPT - Get Free Report) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 2,750,000 shares, a decrease of 9.8% from the September 30th total of 3,050,000 shares. Based on an average daily trading volume, of 579,500 shares, the days-to-cover ratio is presently 4.7 days.

Wall Street Analysts Forecast Growth

FCPT has been the subject of several recent research reports. Evercore ISI boosted their price target on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the company an "in-line" rating in a report on Wednesday, August 28th. Wells Fargo & Company reissued an "overweight" rating and issued a $32.00 price objective (up previously from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Raymond James increased their target price on Four Corners Property Trust from $27.00 to $29.00 and gave the company an "outperform" rating in a research report on Wednesday, August 21st. Finally, JMP Securities reissued a "market perform" rating on shares of Four Corners Property Trust in a research report on Wednesday, August 28th.

Four Corners Property Trust Stock Down 0.7 %

NYSE FCPT traded down $0.20 on Wednesday, hitting $27.88. The stock had a trading volume of 641,155 shares, compared to its average volume of 500,129. Four Corners Property Trust has a 52-week low of $20.89 and a 52-week high of $30.93. The business's fifty day moving average price is $29.00 and its 200 day moving average price is $26.46. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 26.39 and a beta of 1.10.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.14). Four Corners Property Trust had a net margin of 37.01% and a return on equity of 7.72%. The business had revenue of $66.48 million during the quarter, compared to analysts' expectations of $63.70 million. During the same quarter last year, the business posted $0.42 earnings per share. The company's quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts anticipate that Four Corners Property Trust will post 1.66 earnings per share for the current year.

Four Corners Property Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.345 per share. This represents a $1.38 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Monday, September 30th. Four Corners Property Trust's dividend payout ratio is presently 128.97%.

Institutional Investors Weigh In On Four Corners Property Trust

A number of large investors have recently made changes to their positions in FCPT. Vanguard Group Inc. increased its stake in shares of Four Corners Property Trust by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,635,297 shares of the financial services provider's stock worth $260,246,000 after acquiring an additional 116,453 shares during the period. Earnest Partners LLC grew its position in Four Corners Property Trust by 31.3% during the 2nd quarter. Earnest Partners LLC now owns 3,188,779 shares of the financial services provider's stock worth $78,667,000 after purchasing an additional 759,749 shares during the period. Westwood Holdings Group Inc. raised its stake in shares of Four Corners Property Trust by 3.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,619,070 shares of the financial services provider's stock valued at $64,089,000 after buying an additional 93,552 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Four Corners Property Trust by 26.7% during the 1st quarter. William Blair Investment Management LLC now owns 1,410,376 shares of the financial services provider's stock valued at $34,512,000 after buying an additional 297,300 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in shares of Four Corners Property Trust by 9.5% in the 3rd quarter. Boston Trust Walden Corp now owns 1,332,684 shares of the financial services provider's stock valued at $39,061,000 after buying an additional 115,924 shares during the period. 98.66% of the stock is owned by hedge funds and other institutional investors.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.